Author Archives: Alex Shaw

What Percent are You In, and Will it Make You Happier

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Would you rather make $100,000 a year or $200,000 a year? You probably think that’s a dumb question, and in its current form, it is. Of course you would rather take home twice the money. You can make the argument that you’d have to work more, or work in a field you don’t like, but for this case, we’re assuming that for the same job, if you could either make 100,000 or 200,000 dollars, you’d pick 200,000. However, the answer may actually change based on what your peers make. Researchers have found people are happier based on their relative wealth Continue reading What Percent are You In, and Will it Make You Happier→

Internal Effects of Saudi Arabia’s Oil Price Decline

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If you’ve been following recent market trends, or if you drive a car, you know that petroleum and petroleum products (gasoline) have been getting cheaper for the past 18 months or so. The reasons for the decline are complicated to say the least involving OPEC, the Organization of Petroleum Exporting Countries, and are a story for another time, but the truncated story is that Saudi Arabia is forcing prices down because they can produce oil much cheaper than any other country, causing other oil exporting countries to lose money for producing oil. However, this seems to have been having an Continue reading Internal Effects of Saudi Arabia’s Oil Price Decline→

Financial Crises and the Far-Right Extremism that Follows Them

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You’ve probably heard the saying that “those who don’t learn from history are doomed to repeat it.” Unfortunately, there is reason to believe that the circumstances that led to right-wing nationalist support in the early 20th century are reoccurring now in the U.S. and in Europe. This is because there is an eerie political trend when it comes to the aftermath of financial crises. A study by the Center for Economic and Policy Research (CEPR), which covered 800 elections and 100 financial crises from 20 advanced economies between 1870 and 2014, shows that following a financial crisis, the politics of Continue reading Financial Crises and the Far-Right Extremism that Follows Them→

Greek Debt Crisis Explained Part 2

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Following the collapse of the financial sector in the U.S, another audit of Greece’s finances was conducted, and it was revealed that the years since the 2004 audit found that Greece had understated its debt and deficit ratio to debt. This kept Greece from being able to participate in the financial sector i.e., borrow money to pay off previous loans, which brings us to the debt crisis. The International Monetary Fund, the European Central Bank, and the European Commission bailed out Greece, and this, together with debt owed to other Eurozone members comprises roughly two-thirds of Greece’s debt. This explains Continue reading Greek Debt Crisis Explained Part 2→

A Little Context for the Greek Debt Crisis

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If you’ve paid even the slightest bit of attention to international affairs, you’d know that Greece has been in economic trouble since the Great Recession, which resulted in the Greek Debt Crisis a year later. The subsequent handling of the crisis between Greece and its creditors is an issue that I’m looking forward to discussing in the future. However, I’d like to discuss a different aspect of Greece and the Eurozone. The Eurozone refers to countries within the European Union, whom, once they’ve met certain financial requirements, may ditch their local currency, and adopt the Euro. Having a common currency Continue reading A Little Context for the Greek Debt Crisis→